Consolidated Statutes and Regulations Consolidated Statutes Consolidated Regulations Annual Statutes and Regulations Annual Statutes Annual Regulations Additional information Québec Official Publisher What’s new? Information note Policy of the Minister of Justice Laws: Amendments Laws: Provisions not in force Laws: Provisions brought into force Annual Statutes: PDF versions since 1996 Regulations: Amendments Annual Regulations: PDF versions since 1996 Court Decisions

C-78.1 - Act to promote forest credit by private institutions

Section 42
Disposition versions

Full text
42. In case of default of maintenance or in case of deterioration of property securing a loan, the lender may, at the borrower’s expense, do any work and repairs and take any step he considers necessary to ensure its maintenance in good condition.
If the lender omits to exercise the powers conferred on him under the first paragraph or does not exercise them to the satisfaction of the agency, the latter is authorized of right to exercise them itself on behalf of the lender and at the expense of the borrower, as if it were acting as the mandatary of the lender, but it must notify the lender as soon as possible.
1983, c. 16, s. 42; 1992, c. 32, s. 43; 2000, c. 53, s. 66.
42. In case of default of maintenance or in case of deterioration of property securing a loan, the lender may, at the borrower’s expense, do any work and repairs and take any step he considers necessary to ensure its maintenance in good condition.
If the lender omits to exercise the powers conferred on him under the first paragraph or does not exercise them to the satisfaction of the Société, the latter is authorized of right to exercise them itself on behalf of the lender and at the expense of the borrower, as if it were acting as the mandatary of the lender, but it must notify the lender as soon as possible.
1983, c. 16, s. 42; 1992, c. 32, s. 43.
42. In case of default of maintenance or in case of deterioration of property securing a loan, the lender may, at the borrower’s expense, do any work and repairs and take any step he considers necessary to ensure its maintenance in good condition.
If the lender omits to exercise the powers conferred on him under the first paragraph or does not exercise them to the satisfaction of the Office, the latter is authorized of right to exercise them itself on behalf of the lender and at the expense of the borrower, as if it were acting as the mandatary of the lender, but it must notify the lender as soon as possible.
1983, c. 16, s. 42.
© Gouvernement du Québec